Saudi Arabia Solar Photovoltaic (PV) Market Analysis 2025–2034: Growth & Forecast

Saudi Arabia Solar Photovoltaic (PV) Market Overview

The Saudi Arabia solar photovoltaic (PV) market is witnessing a remarkable transformation as the Kingdom actively embraces renewable energy solutions to diversify its energy mix and reduce its carbon footprint. With abundant sunlight year-round and an increasing focus on sustainability under Vision 2030, the country is investing heavily in large-scale solar projects, innovative rooftop systems, and advanced PV technologies. This shift not only supports environmental goals but also creates new economic opportunities and job prospects for Saudi nationals. As awareness and supportive policies grow, solar PV is set to become an integral pillar of the nation’s future energy landscape.

Saudi Arabia Solar Photovoltaic (PV) Market Size

The Saudi Arabia solar photovoltaic (PV) market reached an installed capacity of around 1.90 Gigawatt in 2024, showcasing the nation’s accelerating transition towards renewable power generation. This volume highlights the substantial progress made through ambitious solar farms, urban rooftop installations, and community-based solar projects across major cities and remote regions alike. The growing scale of solar adoption demonstrates increasing government and private sector confidence in renewable energy as a stable and strategic alternative to conventional fuels. With a solid foundation established in recent years, the market’s size reflects the Kingdom’s commitment to achieving clean energy targets, supporting green infrastructure, and boosting domestic manufacturing of solar panels and related equipment.

Saudi Arabia Solar Photovoltaic (PV) Market Trends

The Saudi Arabia solar photovoltaic (PV) market is characterized by several emerging trends that indicate sustained growth in the coming years. One significant trend is the government’s push for mega solar farms, such as the Sakaka PV IPP project and the upcoming NEOM City energy plans. These initiatives are complemented by incentives for decentralized solutions like rooftop solar panels for residential and commercial buildings, which help reduce grid dependency. Technological advancements in PV modules, such as higher efficiency mono-Si and bifacial panels, are also gaining traction, enabling better energy yields. Furthermore, digital monitoring and smart grid integration are enhancing performance and reliability. The increasing interest in public-private partnerships and foreign investments further supports the rapid scaling of the solar sector, positioning Saudi Arabia as a potential leader in renewable energy within the Middle East.

Saudi Arabia Solar Photovoltaic (PV) Market Opportunities and Challenges

The Saudi Arabia solar photovoltaic (PV) market holds immense opportunities driven by robust government backing, favorable climatic conditions, and substantial untapped land resources for utility-scale installations. The Vision 2030 framework sets clear targets for renewable energy capacity, presenting lucrative prospects for investors, developers, and local manufacturers. However, challenges remain in the form of grid integration complexities, intermittency management, and the need for skilled labor to implement and maintain advanced systems. Financing hurdles for smaller residential and commercial projects can also slow down widespread adoption. Despite these obstacles, the rising awareness of clean energy benefits, supportive policies, and technological innovation are expected to overcome challenges and unlock new growth avenues in the years ahead.

Saudi Arabia Solar Photovoltaic (PV) Market Segmentation

Breakup by Technology

• Thin film
• Multi-Si
• Mono-Si
• Others

Breakup by Deployment

• Ground-mounted
• Rooftop Solar

Breakup by Connectivity

• On-grid
• Off-grid

Breakup by End Use

• Residential
• Commercial
• Utility

Breakup by Region

• Makkah
• Riyadh
• Madinah
• Qassim
• Eastern Province
• Others

Saudi Arabia Solar Photovoltaic (PV) Market Growth

The Saudi Arabia solar photovoltaic (PV) market is projected to expand at a steady CAGR of 11.50% between 2025 and 2034, ultimately reaching an impressive capacity of 5.64 Gigawatt by 2034. This strong growth outlook is anchored in the country’s determination to meet its renewable energy targets and reduce dependence on fossil fuels. Increased investments in infrastructure, streamlined regulatory frameworks, and large-scale collaborations between local and international players are fueling market momentum. The expansion of industrial zones and smart cities like NEOM will further accelerate demand for clean and decentralized power sources. Moreover, advances in PV technology, cost reductions, and energy storage solutions will play a pivotal role in supporting sustained growth across all sectors, from residential rooftops to expansive desert solar parks.

Saudi Arabia Solar Photovoltaic (PV) Market Forecast

Looking ahead, the Saudi Arabia solar photovoltaic (PV) market is expected to maintain its upward trajectory, driven by long-term government strategies, large-scale projects, and technological breakthroughs. By 2034, the market will likely reach an installed capacity of 5.64 Gigawatt, more than tripling its 2024 volume. This forecast underscores the nation’s ambition to emerge as a regional hub for renewable energy production and export. The rising integration of battery storage systems, AI-driven grid management, and localized manufacturing facilities will support cost efficiency and enhance system resilience. As domestic and foreign investors continue to capitalize on the Kingdom’s solar potential, the market’s expansion will contribute significantly to economic diversification, environmental sustainability, and energy security for generations to come.

Saudi Arabia Solar Photovoltaic (PV) Market Competitor Analysis

• LONGi Green Energy Technology Co., Ltd.: A global leader in high-efficiency mono-crystalline solar panels.
• CHINT Group: Known for smart energy solutions and PV system integration.
• GTek Solar: Provides turnkey solar PV installations across Saudi Arabia.
• Jinko Solar Co., Ltd.: A top-tier manufacturer with advanced PV module technology.
• Clean Technologies Co: Specializes in sustainable energy and local solar projects.
• Bin Omairah Holding: Active in renewable construction and solar farm development.
• Power Lines Contracting Co.: Focused on solar EPC services and infrastructure projects.
• Others: Various local and global players expanding Saudi Arabia’s solar footprint.

Expert Market Research: Illuminating Saudi Arabia’s Solar Future

Amid rising global attention on renewable power, Expert Market Research reveals how Saudi Arabia’s solar photovoltaic (PV) market continues to shine as a model for clean energy transformation in the Middle East. Combining progressive government policies, advanced solar technologies, and an abundance of sunlight, the Kingdom is well-positioned to become a sustainable energy powerhouse. Backed by detailed market insights and reliable forecasts, Expert Market Research helps stakeholders tap into the full potential of Saudi Arabia’s vibrant solar PV sector—powering a greener tomorrow with innovation and resilience.